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13.08.2015 - Technical view

Currencies trading and euro. The price of EUR/USD after reaching the expected level of resistance at 1.1200, started to correct downwards, and according to our estimates in the near future will return to the level of 1.1080, after which quotations may continue to fall to 1.1000. On the other hand, in case of fixing above 1.1200, quotations will reach the levels near 1.1400. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 1.1200, 1.1250, 1.1400, 1.1450, 1.1500

Nearest support levels: 1.1080, 1.1000, 1.0900, 1.0800, 1.0700, 1.0550

Currencies trading and British pound. The price of GBP/USD has continued to grow along the inclined resistance line and approached the strongest level of 1.5675. In order to overcome this level, will be needed a strong impetus. According to our estimates, at the moment there is a high probability of the beginning of short-term downward movement with the objectives at 1.5460 and 1.5350. Our medium-term outlook also remains negative.

Nearest resistance levels: 1.5675, 1.5700, 1.5800, 1.5900, 1.6000

Nearest support levels: 1.5550, 1.5460, 1.5350, 1.5200, 1.5000, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY has corrected inside the rising channel to the level of 124.00. At the moment the price is consolidating around the level of 124.50. In case the support at 124.00, the price will drop to 123.00. Fixing of quotations above 125.00, will become the basis for continued growth with the target marks at 128.00 and 130.00. Our medium-term outlook remains positive.

Nearest resistance levels: 125.00, 125.70, 128.00, 130.00

Nearest support levels: 124.50, 123.00, 122.00, 121.50, 120.20, 119.00, 118.50

Currencies trading and Australian dollar. The price of AUD/USD resumed falling after a confident correction to 0.7400 and in the near future is likely to continue falling up to the local minimum near 0.7260, after which with a high probability will decline to 0.7200. Overcoming the level of 0.7400 will lead to further increase of the price to the level of 0.7500. We maintain a medium-term negative outlook and recommend holding short positions with the target at 0.7000.

Nearest resistance levels: 0,7400, 0.7500, 0.7600, 0.7700, 0.7800, 0.7840, 0.7900

Nearest support levels: 0.7260, 0.7200, 0.7000

Currencies trading and New Zealand dollar. The price of NZD/USD after overcoming the important level of 0.6600, continued to rise up to the inclined line of resistance, and then started to correct downward. The next upside target level is 0.6500 and falling below this mark will lead to acceleration of descending movement up to 0.6200 and 0.6000. Overcoming and fixing of the price above the level of 0.6700 will be the basis for the continuation of the upward movement up to 0.6850 and 0.7000. Our medium-term outlook is negative.

Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6850, 0.7000, 0.7080, 0.7200

Nearest support levels: 0.6500, 0.6360, 0.6200, 0.6000

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RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.
The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here